Regulatory Alerts2023-01-26
ESMA Opinion on EFRAG Technical Advice on European Sustainability Reporting Standards
The European Securities and Markets Authority issued an opinion on the European Financial Reporting Advisory Group's technical advice for the first set of European Sustainability Reporting Standards. ESMA assessed the standards against investor protection and financial stability criteria, identifying specific discrepancies in transitional provisions and trade secret omissions that require amendment. The regulator advises the European Commission to address these issues through limited textual changes or subsequent reviews to ensure full compliance with the Corporate Sustainability Reporting Directive.
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